Hedge funds outflows hit 7-year high in July

Investors sold $32 billion of hedge fund assets in the month, the largest outflow since 2000; August may be higher.

September 4 2007: 10:17 AM EDT

NEW YORK (CNNMoney.com) -- Hedge funds, which have an estimated $1.9 trillion in assets combined, saw investors sell off an estimated $32 billion worth in July, said a report Tuesday.

The outflow was the largest since 2000, according to a monthly report by TrimTabs, an investment research firm. The August outflow could be even greater, the firm said, although complete data is not yet available.

Funds of hedge funds posted some of the biggest outflows, with investors selling $55 billion in assets in July. Through the end of June, funds of hedge funds had posted 2007 net inflows of $162 billion.

The $55 billion in redemptions represents nearly 5 percent of the total assets in funds of hedge funds, said the report.

Meanwhile, regular hedge funds continued to see an inflow - with $23 billion in July.

"Assuming market volatility does not spike again this month, the worst of the selling in the hedge fund world is probably finished," said Charles Biderman, TrimTabs' CEO, in a statement. Top of page

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